Farm Credit gives $250,000 for endowed scholarship at NMSU
A $250,000 gift from the state's largest agricultural lender will fund a new scholarship for Farm Credit of New Mexico members' children and grandchildren who attend New Mexico State University.
Bruce L. McAbee, Farm Credit of New Mexico president and CEO, presented the gift to NMSU President Michael Martin Dec. 9 at the Mesilla Valley Inn.
"Our board of directors believes very strongly that growth and educational opportunities are needed in the state, particularly in the area of agriculture, and we wanted to do what we could," McAbee said. "We want to add value for our customers and their children and grandchildren so that we can further the educational needs of our young people."
The Farm Credit of New Mexico endowment will provide a $2,000 annual scholarship for one or more NMSU undergraduate students majoring in any subject who are children or grandchildren of a Farm Credit member.
Applicants must be full-time sophomores, juniors or seniors with a 2.5 minimum grade point average.
The first scholarship will be awarded for the fall 2006 semester, said Barbara Wise, major gifts officer with NMSU's College of Agriculture and Home Economics.
Farm Credit of New Mexico makes loans to farmers, ranchers, rural homeowners, cooperatives and agribusinesses. It has offices in Albuquerque, Clovis, Las Cruces, Roswell and Tucumcari. New Mexico stockholders own and borrow from Farm Credit, which is part of a national system established by Congress in 1916 to serve agriculture and rural America.
Farm Credit of New Mexico gave $250,000 Dec. 9 to endow a scholarship for members' children and grandchildren who attend New Mexico State University. From left are Bruce McAbee, Farm Credit of New Mexico president and CEO; Joe Clavel, chairman of Farm Credit's board of directors; Michael Martin, NMSU president; and Lowell Catlett, interim dean of NMSU's College of Agriculture and Home Economics. )Photo courtesy of Ben LaMarca, University Communications.)